“Our members had been hoping for a 75 percent cut from the
last reserve price, then there may have been some significant
interest from these players,” Sud said. “But to say members
will not at all be interested is too sweeping a statement.”

India is preparing to sell airwaves leftover from its two-
day sale in November to meet Finance Minister Palaniappan Chidambaram’s target of raising 400 billion rupees ($7.3
billion) he needs to cut India’s budget deficit. The government
this month approved a 30 percent reduction in the minimum prices
for the 1800 MHz spectrum which operators did not buy in the
nation’s biggest mobile regions, Kapil Sibal, minister of
telecommunications, said Jan. 7.

Tata Teleservices surged as much as 6.1 percent after the
announcement, and traded up 2.9 percent to 12.71 rupees as of
2:47 p.m. in Mumbai. Billionaire Anil Ambani’s Reliance
Communications gained as much as 4.3 percent, and traded up 2.7
percent at 83.10 rupees.